Pledged $1 billion in 2006 from his Anil Agarwal Foundation to set up Vedanta University. Envisions the school as an elite institution modeled on Stanford University and targeting the young Indians who now leave the country in droves to study overseas. Hopes it will boost the lagging economy of Orissa State, in eastern India, where it will be built on a 6,000-acre campus that will ultimately accommodate 100,000 students. Some 1,000 acres have been acquired so far—despite the opposition of locals—and the first batch of students is expected next year.